Trump, Crypto, and Administration Officials: A New York Minute on Digital Assets

Delving into the crypto investments of Trump administration officials and the rise of Trump's own meme coin, $TRUMP.

So, the Trump administration and crypto, huh? It's a wild ride, folks, with a mix of meme coins, financial disclosures, and potential conflicts of interest that could make even a seasoned New Yorker raise an eyebrow.

Trump's Crypto Empire: From NFTs to $TRUMP

Let's cut to the chase. Donald Trump isn't just tweeting about crypto; he's diving headfirst into the digital pool. Remember those NFTs? Well, that was just the warm-up. Now, there's $TRUMP, a meme coin launched just before his inauguration. According to recent financial disclosures, this venture has ballooned into a crypto empire estimated at nearly $1 billion. Eric Trump announced World Liberty Financial (WLF) last August, promising a “new era of finance.” WLF issued governance tokens, with Trump holding nearly 16 billion, valued between 1.5 and 5 cents each based on earlier sales, potentially worth nearly $1 billion, though not currently trading.

Administration Officials: Crypto Holders in High Places

It's not just Trump. Turns out, several top officials in his administration have been bitten by the crypto bug. We're talking substantial investments. JD Vance owns a serious chunk of Bitcoin, between $250,000 and $500,000. And Robert F. Kennedy Jr., as Health and Human Services Secretary, reported owning between $1 million and $5 million in Bitcoin. Sean Duffy, Transportation Secretary, and Mehmet Oz, Administrator for Centers for Medicare & Medicaid Services, are also in the game with hundreds of thousands in crypto. Even Trump's former defense attorney, Todd Blanche, and Defense Secretary Pete Hegseth, are holding crypto.

The $TRUMP Controversy: Legal Corruption or the Future of Finance?

Now, here's where things get a little spicy. $TRUMP has sparked a lot of controversy, with some folks calling it